A consultant in the banking field advises banks how to improve the quality of their decision-making.
Written in 2009; 3,452 words; 11 sources; APA; $ 97.95
Paper Summary:
The paper offers recommendations to banks as it pertains to decision-making issues associated with the needs of customers, employees and the overall health and performance of the bank. The paper advises strategies on the bank's competition, risks, consumer needs, technologies, the mindset of decision makers and the concept of situational awareness.
Outline:
Introduction
Decision-Making and the Banking Industry
Ethics, Human resources and Communicative rules
Research the Competition
Appropriate Evaluation of Risks
Time frames and Decision making
Technology and Decision Making
The Mindset and Decision Making
Situational Awareness
Summary and Conclusion
From the Paper:
"You do not have to watch the nightly news to know that the banking industry has experienced a great deal of turmoil over the past year. One of the primary reasons for this problem is the mortgage crisis and the subsequent credit crunch that has followed. Banks all over the country are reeling from missteps that were taken in the housing market which are now affecting many different aspects of banking.
"For the most part, a great deal of the problems that are now present in the banking industry could have been avoided had better decision making taken place. For instance banks should have insisted that new homers be able to verify income, prove credit worthiness and make down payments on their homes. Banks and other financial institutions such as mortgage lenders were irresponsible in their lending practices and now there is a tremendous price that is being paid for their irresponsibility."
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